Rentokil Initial (NYSE:RTO) Shares Gap Down – Here’s What Happened

Shares of Rentokil Initial plc (NYSE:RTO) gapped down prior to trading on Thursday . The stock had previously closed at $25.15, but opened at $23.05. Rentokil Initial shares last traded at $23.16, with a volume of 581,379 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup upgraded Rentokil Initial to a “strong-buy” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Rentokil Initial Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. The stock has a market cap of $11.61 billion, a PE ratio of 15.23, a PEG ratio of 7.95 and a beta of 1.14. The stock has a 50 day moving average of $24.86 and a two-hundred day moving average of $25.87.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Assetmark Inc. acquired a new position in Rentokil Initial during the third quarter worth $36,000. Crossmark Global Holdings Inc. acquired a new stake in Rentokil Initial in the 3rd quarter worth $334,000. Oppenheimer & Co. Inc. lifted its position in Rentokil Initial by 165.8% in the third quarter. Oppenheimer & Co. Inc. now owns 55,604 shares of the company’s stock worth $1,386,000 after purchasing an additional 34,687 shares during the period. Valley Wealth Managers Inc. acquired a new position in Rentokil Initial during the third quarter worth $29,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its position in Rentokil Initial by 3.2% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 209,377 shares of the company’s stock worth $5,220,000 after acquiring an additional 6,401 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.